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Retirement Annuity Fund - Trustees' Report

Retirement Annuity Fund - Trustees' Report

Introduction

The purpose of this report is to update you on the developments relating to the Fund during the financial year ending 31 December 2017, as well as significant matters which happened after the year end. Please read the report carefully, since developments could affect your own personal retirement planning. Please let us know if you need any further information or assistance with regard to the Fund. You may direct your queries to the trustees using the contact details provided at the end of this report. Finally, we would welcome any comments and suggestions you may have. We would also welcome any questionsyou may have regarding your benefits, general Fund activities or any of the information contained in this report.

Trustees

The trustees meet quarterly to discuss investments, benefits and administrative matters pertaining to the Fund. The trustees have a duty to act with special care and in the utmost good faith, which includes the duty to act impartially and in the interest of all members of the Fund.

Ms Joyce Schulten resigned from SAMRO effective 31 October 2017 and was replaced by Ms Mellissa Moore on 26 January 2018 who resigned from SAMRO effective 31 May 2018 and Ms Ditebogo Modiba has been appointed to replace Ms Moore as a Founder Trustee. Mr Greg Zoghby resigned from SAMRO effective 28 February 2018 and therefore resigned as Founder Appointed Trustee and Mr Karabo Senna has been appointed as a Founder Trustee. Ms G Khambane resigned her appointment to the Board of Trustees and Mr Manqoba Kubheka has been appointed as an Alternate Founder Trustee.